Real Estate /
Poland top overseas property hotspot [29]
such a synic must have polish blood in him... and know very little about the polish real estate market
Sure, I'm Polish. I've been in the business for enough time to notice how it works. There are many such examples. The principle is simple - those who are the first in the business (or have the original idea), take the cream. They do not brag about how their business is great UNTIL they realize they can no longer make enough profit.
Think about this - if you found a gold mine in your private forest, would you tell media about it right after the discovery? No - what you would do is to start digging on your own or hire a private company to see the potential. If you find there is a lot of gold in the area, you buy more land from your neighbors (without telling them about gold, of course) and dig out all gold from the area. After months or years of research you conclude there is no more gold within hundreds of kilometers so you don't buy more land.
Now the advertising part begins. You tell the media the land in your area has plenty of gold and you have found gold worth millions and there are still billions to be found. Of course, you don't tell them you did a detailed research and only scraps of gold could still be found. But you have the proof the gold used to be there so people start buying off your land in the hopes they will find millions. The fool's gold rush begins.
This is how it works. The Polish property market is currently at this stage - the original gold miners now tell the crowd the millions can be made. But at the same time they are silently taking away their businesses to the places nobody knows gold could be found. The crowd will find out about those new places from the media, in several years.
It's called entrepreneurship.
